Swot Anaysis of Hugo Boss
Strengths
• State of the art production facilities spread across the world including Germany, Turkey, Italy, Poland, Switzerland and the United States.
• High quality of working environment is essential and the company ensures the same through their suppliers by enforcing contracts stating that they will meet all statutory requirements and observe social standards.
• Hugo Boss enforces charitable work around the world. Their partnership with UNICEF includes work with “schools for Africa”.
• Hugo Boss offers products from women’s wear, children’s and men’s wear to accessories for casual to formal wear.
• The firm has 5,700 points of sale worldwide and 287 shops.
• Customers are able to become a fan on Facebook which will update with news and pictures.
Weaknesses
• Net working capital down by 29% in 2008
• Slight sales decline of 5% in 2008
• Target market a specific group which results in a limited amount of people buying from the brand.
• Due to exchange rates a loss was encountered in fiscal 2008.
• There are many head offices and buildings to maintain across the world that costs money to maintain.
Opportunities
• Ongoing expansion of directly operated stores particularly in the growth regions of the world
• Sales increase in the Asia/ Pacific region of EUR 79million in the first half of 2009 and expected to rise in 2009
• Expand the brand to a larger target market to increase brand popularity and sales.
• Create new collections in line with future trends to create customer satisfaction.
• Development of the online magazine, online TV and online track which enables customers to view products and news online.
• Expand on the sports and arts scholarships that are already on offer.
Threats
• Economic climate causing a change in buyer behaviour and further possible falls in profit
• Exchange rates cause problems for the company due to having shops in 17 different countries.
• Although Hugo Boss is a
• State of the art production facilities spread across the world including Germany, Turkey, Italy, Poland, Switzerland and the United States.
• High quality of working environment is essential and the company ensures the same through their suppliers by enforcing contracts stating that they will meet all statutory requirements and observe social standards.
• Hugo Boss enforces charitable work around the world. Their partnership with UNICEF includes work with “schools for Africa”.
• Hugo Boss offers products from women’s wear, children’s and men’s wear to accessories for casual to formal wear.
• The firm has 5,700 points of sale worldwide and 287 shops.
• Customers are able to become a fan on Facebook which will update with news and pictures.
Weaknesses
• Net working capital down by 29% in 2008
• Slight sales decline of 5% in 2008
• Target market a specific group which results in a limited amount of people buying from the brand.
• Due to exchange rates a loss was encountered in fiscal 2008.
• There are many head offices and buildings to maintain across the world that costs money to maintain.
Opportunities
• Ongoing expansion of directly operated stores particularly in the growth regions of the world
• Sales increase in the Asia/ Pacific region of EUR 79million in the first half of 2009 and expected to rise in 2009
• Expand the brand to a larger target market to increase brand popularity and sales.
• Create new collections in line with future trends to create customer satisfaction.
• Development of the online magazine, online TV and online track which enables customers to view products and news online.
• Expand on the sports and arts scholarships that are already on offer.
Threats
• Economic climate causing a change in buyer behaviour and further possible falls in profit
• Exchange rates cause problems for the company due to having shops in 17 different countries.
• Although Hugo Boss is a